The Procter & Gamble Company (NYSE:PG) is Patron Partners LLC’s 10th Largest Position

12 Nov 2024, 07:34 by Renee Jackson · The Cerbat Gem

Patron Partners LLC grew its position in The Procter & Gamble Company (NYSE:PG – Free Report) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,037 shares of the company’s stock after buying an additional 101 shares during the quarter. Procter & Gamble accounts for approximately 1.7% of Patron Partners LLC’s holdings, making the stock its 10th biggest holding. Patron Partners LLC’s holdings in Procter & Gamble were worth $3,124,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of Procter & Gamble by 0.6% during the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after acquiring an additional 122,190 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Procter & Gamble by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock valued at $1,598,510,000 after acquiring an additional 733,440 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Procter & Gamble by 9.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock valued at $999,705,000 after acquiring an additional 545,601 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Procter & Gamble by 1.3% during the first quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock valued at $974,914,000 after acquiring an additional 79,665 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Procter & Gamble by 3.9% during the second quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock valued at $941,066,000 after acquiring an additional 216,300 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the sale, the chief executive officer now directly owns 13,721 shares in the company, valued at $2,332,570. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total value of $16,320,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,721 shares in the company, valued at approximately $2,332,570. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jon R. Moeller sold 31,797 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $5,380,688.34. Following the completion of the sale, the chief executive officer now owns 300,777 shares of the company’s stock, valued at $50,897,483.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,597 shares of company stock worth $53,268,499 in the last three months. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PG. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Piper Sandler began coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective on the stock. DA Davidson increased their price objective on Procter & Gamble from $159.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. raised their price target on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.00.

View Our Latest Stock Analysis on PG

Procter & Gamble Stock Performance

Shares of NYSE:PG opened at $166.08 on Tuesday. The company has a market cap of $391.13 billion, a P/E ratio of 28.63, a PEG ratio of 3.63 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94. The business’s 50-day simple moving average is $170.97 and its 200 day simple moving average is $168.26.

Procter & Gamble (NYSE:PG – Get Free Report) last announced its earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $1.83 EPS. On average, sell-side analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.42%. Procter & Gamble’s dividend payout ratio is presently 69.31%.

Procter & Gamble Profile

(Free Report)

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.